Bank of America Downgrades Canadian National Railway (CNI) to Neutral

Canadian National Railway (NYSE:CNI) (TSE:CNR) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

Several other brokerages also recently weighed in on CNI. Zacks Investment Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Monday, July 30th. BMO Capital Markets downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 5th. They noted that the move was a valuation call. Cowen reiterated a “buy” rating and issued a $98.00 price target on shares of Canadian National Railway in a report on Wednesday, July 25th. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Tuesday, September 25th. Finally, Loop Capital reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 25th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $91.98.

Shares of Canadian National Railway stock opened at $85.07 on Thursday. The company has a market capitalization of $65.79 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.26 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.54. Canadian National Railway has a 52 week low of $70.59 and a 52 week high of $91.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, July 24th. The transportation company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.46. The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.57 billion. Canadian National Railway had a net margin of 42.08% and a return on equity of 22.90%. Canadian National Railway’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $1.34 EPS. Analysts expect that Canadian National Railway will post 4.26 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CNI. Cubist Systematic Strategies LLC acquired a new stake in shares of Canadian National Railway during the 1st quarter worth approximately $117,000. Private Capital Group LLC grew its stake in shares of Canadian National Railway by 913.9% during the 1st quarter. Private Capital Group LLC now owns 1,673 shares of the transportation company’s stock worth $122,000 after purchasing an additional 1,508 shares during the period. Assetmark Inc. grew its stake in shares of Canadian National Railway by 73.7% during the 1st quarter. Assetmark Inc. now owns 1,947 shares of the transportation company’s stock worth $142,000 after purchasing an additional 826 shares during the period. Quad Cities Investment Group LLC acquired a new stake in Canadian National Railway in the 2nd quarter valued at $165,000. Finally, First Hawaiian Bank acquired a new stake in Canadian National Railway in the 3rd quarter valued at $175,000. 53.99% of the stock is currently owned by institutional investors and hedge funds.

About Canadian National Railway

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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